Regulatory reform

A pair of SEC commissioners say the treatment of the brokerage firm Qatalyst shows industry watchdogs expect nothing short of perfection with regulatory matters.

The court filings seek to overturn two injunctions federal courts imposed after finding the Department of Labor's new conduct standard is too similar to a previous one vacated in 2018.

Large exchanges argue some of the changes could make it more costly for them to offer rebates to brokers in return for order flow.

If successful, previously banned brokers might be free to "fleece your grandma" again, an expert warned.

The proposed changes, including to brokers' "payment for order flow" practices, laregly come in response to frenzied trading in so-called meme stocks.

RIAs including Abacus Planning Group, Beta Wealth Group, Integrated Advisors Network were accused of violations ranging from making unsubstantiated statements to claiming membership in nonexistent organizations.

Citigroup finds 31% of the changes needed for the move to faster settlement cycles still have to be completed.

Industry groups see the new AML requirements as unnecessarily redundant and burdensome on small firms.

The arbitration decision comes more than a year after SW Financial was expelled from the industry for violating Regulation Best Interest.

The Federal Trade Commission says it's weighing a likely appeal of the ruling.

Regulators have been working their way steadily down from the biggest players in the industry to regional firms in their quest to stamp out abuses of "off-channel" communications.

The wealth management giant questions if there has ever been so large a civil sanction handed down in response to "negligent mistakes" made in an attempt to comply with "unwritten rules."

Researchers wonder if similar regulatory attention could eventually hit the bottom lines of independent broker-dealers and RIAs.

The first phase of FINRA's pilot program for continuing remote branch inspections drew the most interest from firms with 500 representatives or more.

Industry groups say RIAs are receiving SEC letters inquiring about compliance with the new T+1 settlement rule for stock and bond trades.

Former President Trump is disavowing the conservative blueprint, which advocates for radical shifts in regulations and taxes that would reverberate in the industry.

A broker argues the Supreme Court's recent decision in the Jarkesy case means he should get to defend himself against fraud allegations before a jury.

A federal judge agrees with plaintiffs that the Federal Trade Commission lacks authority to set rules on unfair competition.

The high court ruling deals a serious blow to a system that critics contended had allowed regulators to act as proverbial judge, jury and executioner.

Yext's CEO said his firm could have tried building its own in-house compliance software. Instead, it found exactly what it needed at Hearsay Systems.